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Acrylic Acid Market By Application Analysis (Acrylates, Superabsorbent Polymers (SAP’s) & Others) - Growth, Share, Opportunities & Competitive Analysis, 2015 -2022

Acrylic acid is produced predominantly via the two-stage oxidation of propylene. Approximately 5% of propylene is consumed in the production of acrylic acid. Acrylic acid is available in two grades: technical grade and glacial grade.

The market is witnessing growth due to rising demand for end-use applications. Moreover, the rapid expansion of different end-use applications for acrylic acid drives market growth. Untapped economies also offer huge growth potential. However, health hazards and environmental concerns associated with acrylic acid are major factors inhibiting market growth. 

Purpose of the Report

The purpose of this strategic research study titled “Global Acrylic Acid Market” is to provide company executives, industry investors, and industry participants with in-depth insights to make informed strategic decisions regarding the global acrylic acid market opportunities.

Target Audience

  • Industry investors
  • Raw material suppliers
  • Distributors
  • Manufacturers
  • Retailers

By Applications – Acrylic Acid

Based on applications, the acrylic acid market is classified into acrylates, SAPs, and others. The acrylates include surface coating, adhesives, resin modifiers, and others. The SAP includes baby diapers, adult incontinence, feminine hygiene, and others. The other markets include polymer modifiers, inks, water treatment, and paper processing, among others.The market was dominated by acrylates applications, but growth is projected to be the fastest from the SAPs applications. Its wide range of use supports a growth rate marginally higher than GDP.

Acrylic acid is a commonly used chemical intermediate and is considered a valuable chemical commodity due to its use in a broad range of applications. The most extensively recognized process for producing acrylic acid is the vapor phase oxidation of propylene. This is generally done as a standard process, including a series of two reactors utilizing two separate catalysts. In this procedure, the first reactor converts the propylene into acrolein, whereas the second reactor completes the conversion of acrolein to acrylic acid. Instead of utilizing this common production method, this design project specifies a one-reactor system using a molten salt heat transfer medium to relieve the system of the heat of the reaction produced. When executed properly, the parabolic temperature circulation should affect roughly 90% conversion of propylene.

The overall market is witnessing growth due to rising demand from end-use applications such as construction, paints and coatings, adhesives, and sealants. In addition, the rapidly increasing application of superabsorbent polymers (SAP) is another major factor triggering market growth. Imbalance in the supply chain and environmental concerns are some of the major factors inhibiting the growth of the market. However, a shift in focus on developing bio-based acrylic acid and high growth potential from untapped regions offers huge market demand.The Asia Pacific is the largest market for acrylic acid in terms of volume and revenue; It is projected to maintain its dominance over the coming few years. The rise in demand for baby diapers and infrastructure development supported by rising purchasing power are major contributors to market growth. Expanding applications of superabsorbent polymers are projected to trigger market demand for acrylic acid in North America and European regions. Moreover, the demand for adult diapers due to the growing aging population contributes to market growth. Untapped economies such as the Middle East, Eastern Europe, Latin America, and Africa offer growth potential.

Cargill and Novozymes are developing a technology that could produce acrylic acid from 3-hydroxy propionic acid using sugar as the feedstock. Engineered microorganisms ferment the sugar to make 3-hydroxy propionic acid. This project has received funding from the US Department of Energy with technology of USD 1.5 million. This project was expected to be viable by 2013.Arkema and Jurong chemical, leaders of acrylic acid in China, entered the joint venture, Sunke.

In this venture, Arkema has a majority interest and consists of two acrylic acid lines, each amounting to 160,000, located on the Taixing site in China. With the first stage closing, Arkema has access to half of the site’s installed production. This strategy will help the company to meet the rising demand of its customer in the Asia region. It will support the growing markets such as paints, superabsorbents, adhesives, and water treatment.

Based on geography, the global acrylic acid market is segmented into the following regions

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
  • Rest of the World
  • Brazil
  • Rest of RoW

The Asia Pacific is the largest market globally and is projected to grow at the highest rate in revenue and volume from 2015 to 2022. North America is the second largest market, followed by Europe. In addition, untapped economies such as the Middle East, South East Asia, Latin America, and Eastern Europe offer huge market potential.

Frequently Asked Questions :

The market for Acrylic Acid is expected to reach US$ XX Bn in 2022.

The Acrylic Acid market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2015-2022.

The base year of this report is 2021.

Arkema SA, BASF SE, The DOW Chemical Company, Evonik Industries, Galactic S.A, Mitsubishi Chemical Holdings Corp, Nippon Shokubai Co. Ltd, Sasol Ltd, The Lubrizol Corporation, SIBUR are some of the major players in the global market.

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Published Date:  Mar 2016
Category:  Chemicals
Report ID:   57760
Report Format:   PDF
Pages:   120
Rating:    4.2 (60)
Delivery Time: 24 Hours to 48 Hours   
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